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it is saying that the question is incomplete and i cant find out why. can someone please help? Che Dan Watson started a small merchandising
it is saying that the question is incomplete and i cant find out why. can someone please help?
Che Dan Watson started a small merchandising business in Year 1. The business experienced the following events during its first year of operation. Assume that Watson uses the perpetual inventory system 1. Acquired $30,000 cash from the issue of common stock, 2. Purchased inventory for $18,000 cash. 3. Sold Inventory costing $15,000 for $32,000 cash. Required a. Record the events in general Journal format. b. Post the entries to T-accounts. c. Determine the amount of gross margin d. What is the amount of net cash flow from operating activities for Year 1? Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Record the events in general Journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field) View transaction list View journal entry worksheet Credit NO Event General Journal Debit 30,000 1 1 Cash 18,000 2. 2 Merchandise inventory 32,000 3 30 Cash 15,000 4 36 Cost of goods sold Dan Watson started a small merchandising business in Year 1. The business experienced the following events during its first year of operation. Assume that Watson uses the perpetual inventory system, 1. Acquired $30,000 cash from the issue of common stock. 2. Purchased inventory for $18,000 cash. 3. Sold inventory costing $15,000 for $32,000 cash. Required a. Record the events in general journal format. b. Post the entries to T-accounts. c. Determine the amount of gross margin. d. What is the amount of net cash flow from operating activities for Year 1? Complete this question by entering your answers in the tabs below. + Required A Required B Required Required D nces Post the entries to T-accounts. Common Stock Beg Bal 0 0 0 18.000 2 0 Bog. Bal. 1 Ba 30.0001 Cash 0 30.000 32.000 0 44,000 0 0 0 0 0 End, Bal 30,000 End Bal Beg Bal Sales Revenue g 0 32.000 a Beg Bal $ 12 Merchandise Inventory 0 18,000 $ 15,000 Sb. 0 0 3 0 12 ER ER Prov 1 of 4 !!! Next > Complete this question by entering your answers in the tabs below. Required a Required Required Required D Post the entries to T-accounts Common Stock 0 Beg. Bal. 1. Beg, Bat 0 0 Cash 0 30,000 32,000 0 44,000 18,000 12. 0 0 Sa 30,000 0 0 0 0 End. Bal 0 30,000 End, Bal Merchandise Inventory Sales Revenue 0 Beg Bai 0 0 Beg. Bal 0 $ 18,000 $ 0 15,000 3 0 0 0 32,000 Sa 0 32,000 End. Bal. 3,000 End Bal Cost of Goods Sold 0 15,000 $ 0 Bog. Bal 3 0 0 0 End. Bal 15,000 Step by Step Solution
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